Notes from Argus Research:
"We would put a stop-loss under the 20-day at $150, with a final stop at the 50-day at $135. We would take profits in the $200+ area.
The pandemic has closed theme parks and emptied movie theaters. Instead of crashing, however, DIS rallied to a new all-time high last week, after it released eye-popping subscription numbers for its online streaming service Disney +. The service, though late to the game compared with Prime and Hulu, looks like the entity best positioned to take on Netflix, thanks to Disney’s deep library of Pixar, Marvel and Star Wars properties (not to mention princesses and adorable forest creatures).
From a year-open in the $150s, DIS fell harder than most -- to $85 in late March -- on the perception that the loss of theatrical and theme park revenue would sting. It didn’t help that the company flubbed its expensive “Mulan” launch. After finally getting back above its 200-day at $125 in August, DIS tracked the descending long-term trendline to $118 late in October. The stock has roared higher from there, including a $21 jump on Friday."
"We would put a stop-loss under the 20-day at $150, with a final stop at the 50-day at $135. We would take profits in the $200+ area.
The pandemic has closed theme parks and emptied movie theaters. Instead of crashing, however, DIS rallied to a new all-time high last week, after it released eye-popping subscription numbers for its online streaming service Disney +. The service, though late to the game compared with Prime and Hulu, looks like the entity best positioned to take on Netflix, thanks to Disney’s deep library of Pixar, Marvel and Star Wars properties (not to mention princesses and adorable forest creatures).
From a year-open in the $150s, DIS fell harder than most -- to $85 in late March -- on the perception that the loss of theatrical and theme park revenue would sting. It didn’t help that the company flubbed its expensive “Mulan” launch. After finally getting back above its 200-day at $125 in August, DIS tracked the descending long-term trendline to $118 late in October. The stock has roared higher from there, including a $21 jump on Friday."